As a boy's name this is a pet form of Jeremy or Gerald, or occasionally of Gerard and Jerome. As a girl's name it is a variant spelling of Gerry, and is sometimes bestowed as an independent given name, as in the case of the American model and actress Jerry Hall (b. 1956).
English (Kent and Sussex): habitational name from any of various places of this name, in particular one in the parish of Perching, Sussex, recorded as Homwood in about 1280; there were others in Chailey and Forest Row in Sussex. All are probably named from Middle English home ‘homestead’, ‘manor’ + wode ‘wood’.